Blue Ocean Financial Services is no longer authorised by the Financial Conduct Authority, meaning it can no longer execute or advice on regulated business, like Pension Transfers into SIPPs.
In fact, Blue Ocean Financial Services was dissolved in 2016, falling into default with the FSCS, meaning that the compensation scheme is satisfied that it can no longer pay out claims made against it for negligent advice, leaving the life-boat scheme to pick up the pieces…Get started now
Several financial advisers and the FSCS have been paying out compensation for mis-selling investments via SIPPs and SSASs for a few years, with Spencer Churchill Claims Advice often leading the claim on a No Win – No Fee* basis.
Then you may have been mis-sold, and you could be able to make a claim for negligent SIPP advice.
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Many pension-savers around the country took financial advice from various advisers to transfer their pensions into SIPPs: Self-Invested Personal Pensions, and ended up in high-risk, unregulated investments and/or non-standard assets, such as children’s services schemes and overseas property investments, that they didn’t have the experience to manage, nor the capacity for loss should things go wrong.
At Spencer Churchill Claims Advice, we have experience to deal with these situations, guiding our clients step-to-step as we build cases against their financial adviser for negligent advice, claiming back.
15 November 2016 saw Blue Ocean Financial Services dissolved as a business.
In July 2017, the FSCS declared Blue Ocean Financial Services in default – meaning that the compensation scheme was satisfied that Blue Ocean could never pay any compensation for any negligent advice it gave, and that the FSCS would pay instead.